GAMMA Investing LLC Takes Position in NIKE, Inc. (NYSE:NKE)

GAMMA Investing LLC acquired a new stake in shares of NIKE, Inc. (NYSE:NKE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,606 shares of the footwear maker’s stock, valued at approximately $1,077,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Oliver Luxxe Assets LLC grew its holdings in NIKE by 2.9% during the third quarter. Oliver Luxxe Assets LLC now owns 37,510 shares of the footwear maker’s stock worth $3,587,000 after buying an additional 1,041 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in NIKE during the fourth quarter worth $8,034,000. Financial Gravity Asset Management Inc. grew its holdings in NIKE by 2,332.5% during the third quarter. Financial Gravity Asset Management Inc. now owns 184,042 shares of the footwear maker’s stock worth $17,598,000 after buying an additional 176,476 shares in the last quarter. International Assets Investment Management LLC grew its holdings in NIKE by 10,184.3% during the fourth quarter. International Assets Investment Management LLC now owns 388,131 shares of the footwear maker’s stock worth $42,139,000 after buying an additional 384,357 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC grew its holdings in NIKE by 55.6% during the fourth quarter. Franklin Street Advisors Inc. NC now owns 194,164 shares of the footwear maker’s stock worth $21,080,000 after buying an additional 69,363 shares in the last quarter. Institutional investors own 64.25% of the company’s stock.

NIKE Price Performance

NYSE NKE traded down $0.15 during trading on Tuesday, reaching $94.04. The company’s stock had a trading volume of 6,579,633 shares, compared to its average volume of 9,562,076. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.74 and a quick ratio of 1.89. The stock has a market capitalization of $141.94 billion, a PE ratio of 27.84, a P/E/G ratio of 1.82 and a beta of 1.09. The firm has a fifty day moving average of $97.85 and a 200 day moving average of $103.46. NIKE, Inc. has a one year low of $88.66 and a one year high of $128.68.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, March 21st. The footwear maker reported $0.98 EPS for the quarter, beating the consensus estimate of $0.69 by $0.29. The firm had revenue of $12.43 billion for the quarter, compared to analyst estimates of $12.28 billion. NIKE had a return on equity of 39.41% and a net margin of 10.14%. Analysts expect that NIKE, Inc. will post 3.73 EPS for the current fiscal year.

NIKE Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 4th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.48 annualized dividend and a dividend yield of 1.57%. NIKE’s dividend payout ratio (DPR) is presently 43.53%.

Wall Street Analyst Weigh In

NKE has been the subject of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $100.00 price target (down previously from $110.00) on shares of NIKE in a report on Friday, March 22nd. Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of NIKE in a research report on Wednesday, March 27th. Piper Sandler cut their price objective on NIKE from $107.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 22nd. Morgan Stanley cut their price objective on NIKE from $124.00 to $116.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 27th. Finally, Bank of America raised NIKE from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $110.00 to $113.00 in a research report on Thursday, April 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.26.

About NIKE

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.